IQIF Practice Questions - IBFIM Intermediate Qualification In Islamic Finance Exam

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Under Fiqh al-Muamalat, if gold is traded for gold, which of the following sets of conditions must be met to avoid committing Riba al-Fadl and Riba al-Nasi'ah?

The trade must be deferred in payment and unequal in weight. The trade must be spot (hand-to-hand) and equal in weight (measure for measure). The trade must be deferred in payment but equal in weight. The trade must be spot (hand-to-hand) but can be unequal in weight.

Correct Answer:

The trade must be spot (hand-to-hand) and equal in weight (measure for measure).

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